Identity, Security, Payments, Biometrics, Smart Cards and Authentication News

Citi invests in ViVOtech

Wednesday, February 13, 2008

New York-based Citigroup has invested in mobile payments vendor ViVOtech. The Santa Clara, Calif.-based company offeres mobile infrastructure software that enables collaboration across all payment providers.

The two companies hope to benefit from the investment by improving the “customer experience,” according to Michael Mullagh, CEO of ViVOtech. The resulting technology advancements also form a foundation for a range of new customer payment, loyalty and promotion services, including personalized discounts and incentives, and faster and convenient transaction experience at the checkout. Financial terms of the deal were not disclosed. [end] 

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